Guaranteed Asset Protection (GAP)
Protect your auto investment with Guaranteed Asset Protection (GAP)
Vehicle values decline rapidly, which is why your insurance settlement in the event of an accident or stolen vehicle, may not cover your entire loan balance.
What is GAP?
If your vehicle is lost or stolen, your primary insurance settlement can be significantly less than the outstanding loan balance.
This will create a deficiency balance or "gap" that you will be responsible for paying. GAP protection is designed to relieve you of the responsibility for the remainder of the loan balance not covered by insurance.
GAP Benefits include:
- Low-cost protection with a 60-day free look
- Eliminates out-of-pocket expense for your remaining loan balance after loss settlement
- Prevents financial hardships and protects credit ratings
Auto Deductible Reimbursement (ADR)
ADR is an additional benefit that reimburses your auto deductible up to $500 if you pay one due to vehicle damage. ADR is available to you for up to three years on any four-wheel passenger vehicle you own and insure. This benefit also includes free personal ID restoration consulting in the event of fraud or identity theft, as well as warranty registration services so you can conveniently store all warranty and protection information in one single location.
What is the GAP Advantage benefit?
GAP Advantage is an additional benefit offered as protection on a new or used vehicle that is financed or leased. GAP Advantage provides you with a $1,000 credit towards the financing of a replacement vehicle if financed or leased with the same financial institution.
Protect yourself with GAP today by contacting us or calling (800) 777-6728. We are happy to answer your questions and set up your coverage.